The Top 10 NFT Projects in Crypto Winter
By Diana Turner October 19, 2023
- The crypto winter in 2023 presents challenges and opportunities for investors, but some assets continue to thrive despite the bearish market sentiment
- NFTs offer unique opportunities in the ever-evolving world of the crypto winter of 2023
- These projects vary in market capitalization and token price, with notable mentions like CryptoPunks with a market cap of over $10 billion and affordable options like Rarible
- Collectors and investors should conduct thorough research and due diligence before considering investments in these NFT projects
The crypto winter of 2023 has brought both challenges and opportunities for cryptocurrency enthusiasts and investors alike. While overall market sentiment might be bearish, this period also offers a unique chance to identify high-quality projects that are undervalued due to the prevailing market conditions.
Among the various niches in the crypto space, NFTs have gained immense popularity in recent years. NFTs represent unique digital assets, ranging from digital art and music to virtual real estate and collectibles. Despite the overall market downturn, NFTs continue to thrive, with several projects showing promise in terms of both market capitalization and token price. In this blog, we will delve into the top 10 NFT projects worth considering during this crypto winter, focusing on their market cap and token price.
Top 10 NFT Projects in Crypto Winter
1. CryptoPunks (PUNK)
- Volume: CryptoPunks boasts $7.8 million in sales volume for September 2023.
- Token Price: The average sale for a CryptoPunk is around $88,000 highlighting its scarcity and high demand.
- Why It's Worth Considering : CryptoPunks are among the earliest NFTs, and their historical significance, coupled with limited supply (10,000 unique punks), makes them sought-after.
2. Art Blocks (BLOCKS)
- Volume: Art Blocks had $5 million in sales during September 2023 indicating strong investor interest even in a bear market.
- Price: The average sale for Art Blocks is around $1,000, showcasing affordability compared to some other NFT projects.
- Why It's Worth Considering: Art Blocks allows artists to create generative art NFTs, fostering a vibrant and creative community.
3. Bored Ape Yacht Club (APE)
- Volume: The Bored Ape Yacht Club has 1.3 million ETH volume on OpenSea, showcasing the NFT community's enthusiasm.
- Token Price: The floor price for a Bored Ape NFT is around 25 ETH indicating strong demand and scarcity.
- Why It's Worth Considering : Bored Ape NFTs come with membership perks and a vibrant community, making them more than just digital collectibles.
4. Decentraland (MANA)
- Volume: Decentraland's MANA token boasts a market cap of over $500 million, reflecting its position as a leading virtual real estate NFT project.
- Price: The MANA token is priced at around $0.25, making it an affordable entry point into the metaverse.
- Why It's Worth Considering: Decentraland offers users the opportunity to buy, sell and develop virtual real estate in a thriving metaverse.
Source: NBA Top Shot
5. NBA Top Shot (NBA)
- Volume: NBA Top Shot had $1.4m in sales for September 2023, proving there is life in the NFT space.
- Price: The average NBA Top Shot Moments sale was $17.42 in September 2023.
- Why It's Worth Considering: The project's official licensing with the NBA makes it a trustworthy platform for sports fans and collectors.
6. Pudgy Penguins (PUDGY)
- Volume: Pudgy Penguins has a volume of 194,834 ETH on OpenSea, proving that quirky and unique NFT projects can find success.
- Price: The floor price for a Pudgy Penguin NFT is approximately 5.25 ETH, indicating growing interest.
- Why It's Worth Considering: Pudgy Penguins' unique and endearing design has garnered a dedicated following.
The price of Rarible's token since its 2020 launch. Source: CoinGecko
7. Rarible (RARI)
- Volume: Rarible's token has a market cap of $9m, showcasing perhaps an undervalued token in crypto winter.
- Price: RARI tokens are priced less than $10, offering an affordable entry point.
- Why It's Worth Considering: Rarible allows users to create, buy, and sell NFTs, emphasizing community-driven creativity.
8. Axie Infinity (AXS)
- Volume: Axie Infinity's market cap exceeds $500 million, making it one of the largest NFT gaming project tokens.
- Price: Axis NFTs don't have a floor, offering an accessible entry into the world of blockchain gaming.
- Why It's Worth Considering: Axie Infinity's play-to-earn model has gained widespread attention and adoption.
9. World of Women (WOW)
- Volume: World of Women has a total volume of 82,936 ETH on OpenSea, highlighting the importance of diversity in the NFT space.
- Price: WOW NFTs are floor priced at around 0.7667 ETH, making it an accessible project.
- Why It's Worth Considering: World of Women empowers female artists and creators, contributing to inclusivity in the NFT world.
10. Loot (LOOT)
- Volume: Loot has a total volume of 75,962 ETH on OpenSea, showcasing the interest in novel NFT concepts.
- Price: 0.54 ETH is currently the floor price for Loot NFTs.
- Why It's Worth Considering: Loot NFTs represent unique, randomized fantasy items, fostering creativity and imagination.
Crypto Winter Will Thaw
In the midst of the crypto winter, these top 10 NFT projects have demonstrated resilience and strong community support. While market conditions may be challenging, these projects offer unique opportunities for collectors and investors alike.
Remember to conduct thorough research and due diligence before making any investment decisions. As the crypto winter gradually thaws, these NFT projects could potentially see significant growth, making them intriguing options for those looking to diversify their crypto portfolios.
Invest wisely and seize the opportunities presented by the ever-evolving world of NFTs.